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Washington Insurance coverage Commissioner Fines Firm $100K for Working Illegally

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Washington Insurance coverage Commissioner Mike Kreidler fined First Premier House Guarantee Corp. $100,000 and ordered the New York-based house guarantee firm to cease conducting insurance coverage enterprise in Washington.

The cease-and-desist order notes that First Premier submitted a service contract supplier utility to the Workplace of the Insurance coverage Commissioner in August of 2022, however by no means included the paperwork required to finish the method. Firms should be approved by the OIC to transact or solicit insurance coverage enterprise in Washington.

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A shopper with a house in Washington filed a criticism with Kreidler’s workplace after First Premier denied a declare for repairs to a fridge. Regardless of its service settlement stating it lined restore or alternative if any merchandise turned inoperable, First Premier denied the declare primarily based on it being a “sealed system failure,” in keeping with the OIC.

The buyer requested a coverage refund of $1,830 and was supplied a $725.99 credit score, after a $1,649 “administrative payment.” The buyer then filed a criticism with the OIC.

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The corporate knowledgeable OIC investigators that it offered 22 service contracts, acquired $20,859.22 in funds and paid $5,549.83 to customers. First Premier has 90 days to request a listening to to contest the order.

Since 2001, Kreidler has assessed greater than $40 million in fines, that are directed to the state’s basic fund to pay for state providers.

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